Found 21 blog entries tagged as Edmonton Real Estate.

In September 2024, the Greater Edmonton Area (GEA) real estate market saw 2,256 residential unit sales, a 12.6% decrease from August. New residential listings totalled 3,215, down 4.6% from the previous month, while overall inventory fell 1.7%.

Detached homes recorded 1,299 sales, an 11.1% decrease from August. The average price for detached homes was $552,684, up 1.3% from the previous month. These homes averaged 37 days on the market, an increase of two days from August.

Semi-detached homes saw a 15.8% decline in sales from August, with an average price of $413,252, down 0.3%. The average time on the market they remained unchanged at 30 days.

Row/townhouses experienced a 15.4% drop in sales compared to August. The average selling price was…

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When buying a home deciding whether to pay cash or finance through a mortgage is a significant decision. As a local Edmonton realtor, helping clients weigh the benefits and drawbacks of paying cash is crucial. Understanding the Edmonton real estate market and the pros and cons of cash purchases can guide homebuyers in making the right choice.

Pros and Cons of Paying Cash for a Home in Edmonton: A Realtor's Perspective

Pros of Paying Cash for a Home in Edmonton
  1. No Mortgage Payments: The most notable advantage of paying cash is eliminating monthly mortgage payments. This offers financial peace of mind, especially for buyers who want to avoid long-term debt, particularly in Edmonton’s stable housing market.
  2. Faster Closing Process: Edmonton cash transactions generally close faster because they bypass the loan approval…

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Edmonton’s housing market is booming, with new homes being built at a record-breaking pace. The latest data from the Canada Mortgage and Housing Corp. (CMHC) reveals over 10,000 new housing starts from January to July 2024, with all housing types seeing a surge in demand.

Single-family detached homes are leading the way, with starts up 67% compared to last year, while semi-detached homes and townhomes have also experienced strong growth. Apartment construction has seen a 71% increase, driven mainly by rental properties, which are up by 75%. Even the often-overlooked condominium market is bouncing back, with a 42% rise in new builds as more buyers turn to affordable options.

New zoning laws have further fueled development, allowing builders to…

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One of the key tools in any agent’s arsenal is the Comparative Market Analysis (CMA). A CMA is a comprehensive evaluation of a property's value by comparing it to similar properties that have recently sold in the area. Let's delve into the CMA process and its significance in helping buyers and sellers make informed decisions.

The first step in conducting a CMA is gathering data on recent sales of comparable properties. These properties should be similar in terms of size, location, features, and condition to ensure an accurate comparison. This data is obtained from various sources, including the Multiple Listing Service® (MLS®) and public records.

The next step is to analyze the gathered data and make adjustments to account for any…

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Preparing for a Day of Multiple Viewings

When you’re selling your home, several viewings of your property may be scheduled on the same day. That can be a good thing because it can create increased excitement about your listing.

To prepare for a multiple viewings day, follow these tips:

  •          Clean and prepare your home the day before. That way, you’re not scrambling to get things ready in the morning.
  •          Confirm the time of the first appointment. Schedules can change quickly.
  •          Plan to leave your home a half-hour before the viewings begin. Some buyers might feel awkward if they run into you as you’re coming out.
  •          Make a last-minute checklist.
  •          Assume the viewings will go overtime. Plan to be away at least a half-hour after the…

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 The Role of Personal Goals when Deciding to Sell

Many people decide to move for practical reasons. For example, some might be required to move due to work relocation and others may realize that their household has changed and they are ready to downsize or upsize.

But personal goals play an important role too.

In fact, when deciding whether or not to sell your property and find your next dream home, it’s essential to consider personal goals—your own and those of other family members too.

After all, where you live, and the type of home you live in, can greatly impact your goals and dreams.

For example, if you’re active in a particular sport or another hobby (such as hiking), being able to enjoy that activity locally might be an objective. If your goal is to live in a certain…

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Buying Commercial Property

 

There are many things that need to be considered when purchasing a commercial property. Check out the tips below to make sure all your bases have been covered.

Get a feel for the real estate market in the area that you are searching in. Can you get a sense of what it would be like in a few years? Will the area be booming or will things fizzle out?

Determine your financial situation. What type of money is needed to complete the deal? What do you financially need to be able to maintain the payments and the property?

Determine if the space will work for you and your plan. Have an idea ahead of time of the space you will require and what you need the space to include.

If you need to do upgrades, renovations,…

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